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Under Armour's sneaker business loses its traction

Footwear revenue down 2% in latest quarter, compared with 58% jump in corresponding period last year

Thu, Aug 03, 2017 - 5:50 AM

Lonzo Ball of the Los Angeles Lakers wearing Stephen Curry Under Armour sneakers during a 2017 Summer League game. Under Armour is hoping that the next iteration of the sneaker, the Curry 4, can spur sales of its shoes.

PHOTO: AFP

New York

UNDER Armour Inc was betting it could dance with Nike and Adidas at the hot sneaker prom. It was not to be.

The sports clothing label reported a 2 per cent decline to US$237 million in footwear revenue for the quarter, compared with a 58 per cent jump over the same period